KAPNOX, Foreign Exchange & Money Changers, Reserve Bank of India Guidelines for Education Travellers
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OVERSEAS EDUCTAION


As per the Reserve Bank of India statutes,  For the purpose of Overseas Education, one can avail of foreign currency notes, travellers cheques and prepaid travel currency cards up to USA $1,00,000/- per annum in a variety of currencies. At KAPNOX we provide you the best guidance and assistance for your education needs.


Reserve Bank of India statutes


Eligibility 
- Resident Indians 
- Confirmed admission in overseas college / university / educational Institution 
- Students holding Foreign Passports and dependent on their parents, resident in India.

Quantum of Exchange 
- USD 100,000 per annum towards tuition fees, living expenses, books etc.
- Exchange can be released in travelers’ cheques/draft/TT with maximum currency component of USD 3000 (May 04 Notif (ication) or its equivalent. .

Documents 
- $_GET letter available with KAPNOX Forex
- Form A-2 with FEMA declaration available with KAPNOX Forex
- Form I – 20 mandatory for students studying in United States.
- Prospectus, syllabus in original with a certif (ied copy, thereof giving full details of the course of study, tuition fees payable etc.
- Invitation letter for admission in original from overseas university/college indicating the date of commencement of the course, degree / diploma it leads to and the duration of the course.
- Photocopy of Passport along with student Visa. 
- Confirmed one-way Air Ticket (Only in case of issue of currency/travelers’ cheques).


 

The following form may be forwarded to us on the original Letterhead of the company, along with your passport and ticket

 
 
The Manager,
KAPNOX FOREX PVT. LTD.

Dear Sir,
Date :               
Sub : Release of Foreign Exchange for Business Visit.
  We $_GET you to release exchange as detailed below to Mr/Ms.________________________(designation)______________________ who is proceeding abroad on company’s business.

Currency

Amount
in Cash

Amount in
Travellers Cheques

Preffered T/C
Denominations

 _________

_____________

_________________

______________

 _________

_____________

_________________

______________

The details are given below for your necessary action:
1. Name :
2. Residential Address :
3. Nationality :
4. Passport No.                   Date of issue :
5. Airline & Ticket No.
6. Date of Departure:
7. Country/Countries to be visited :
8. Nature of business visit in each country :
 
 
         We certif (y that the expenses are borne by our organisation. We declare that the foreign exchange drawn will be used for the purpose stated above. We further declare that this transaction will not involve and is not designed for the purpose of any contravention or evasion of the provisions of FEMA or of any rule, regulation, notif (ication, direction or order made thereunder.

         We enclose herewith passport, air ticket, and our cheque no. _______________ drawn on_______________________________for Rs.__________towards release of exchange.


Yours faithfully,
__________________
Authorised Signatory

 

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